fbpx

I had a client in the office today, 59 years old.

We were discussing State Pension, and I checked the date her state pension is due – I was surprised its not till she is 65 years, 2 months – we all know that state pensions are being deferred by sometimes we don’t realise by how much.

Two calculators to check the state pension age are at:

https://www.gov.uk/calculate-state-pension

http://www.pensionsadvisoryservice.org.uk/state-pensions/state-pension-age-calculator?

The latter site sets out some rules which are worth reading:

The State Pension Age (SPA) is the earliest age you can draw your State Pension.  Your SPA is defined by your date of birth.  This calculator will tell you what your SPA is.

Under current rules:

  • Men born before 6 December 1953 retain their SPA of 65
  • Women born before 6 April 1950 retain their SPA of 60
  • Women born on or after 6 April 1950 but before 6 December 1953 will have an SPA between 60 and 65
  • Men and women born on or after 6 December 1953 but before 6 October 1954 will have an SPA between 65 and 66
  • Men and women born on or after 6 October 1954 but before 6 April 1968 will have an SPA of 66
  • Increases from 66 to 67 and then to 68 will affect men and women born on or after 6 April 1968 (see update below)

UPDATE! On 29 November 2011 the Government announced that the increase from 66 to 67 will be brought forward from 2034 to 2026. People born on or after 6 April 1960 but before 6 April 1961 will have an SPA between 66 and 67. People born on or after 6 April 1961 will have an SPA of 67 or higher.  This proposed change is not expected to be finalised until the end of 2012 or beginning of 2013. Because this is a proposal and not law, this calculator is based on the current law and does not take the proposed changes into account.